The deal creates what Xometry says is the industry’s largest distributed on-demand manufacturing network, with more than 2,300 domestic manufacturers and machine shops that make prototypes and smaller runs of parts for customers including BMW AG and General Electric Co., which are also investors.

The deal creates what Xometry says is the industry’s largest distributed on-demand manufacturing network, with more than 2,300 domestic manufacturers and machine shops that make prototypes and smaller runs of parts for customers including
BMW AG
and
General Electric Co.
, which are also investors.

Businesses upload their design files to the Gaithersburg, Md.,-based firm’s platform, which uses machine learning to match companies with vetted suppliers, generating instant price quotes and lead-time estimates. The aim is to streamline the sourcing process and reduce costs for manufacturers.

The combined company has a total of about 170 employees, with offices in Maryland and in Lexington, Ky., where MakeTime is based. Xometry declined to disclose the financial terms of the deal.

In addition to expanding Xometry’s manufacturing network, the acquisition brings customers greater ability to check pricing and get other feedback from factories earlier in the design stage, through add-ons for 3-D computer-aided software. MakeTime has one for Autodesk Fusion, while Xometry has one for SolidWorks, another 3-D design program.

Advertisement

U.S. tariffs on steel and aluminum imports have made pricing more volatile in recent months, and Xometry co-founder and Chief Executive Randy Altschuler says the company’s platform “can reflect what the market costs are for those materials,”

Xometry will also incorporate a MakeTime program that gives machine shops in its network access to special offers on cutting tools, software, computer equipment and manufacturing equipment financing programs.

Founded in late 2013, Xometry has more than 10,000 customers in industries ranging from automotive and medical devices to aerospace and consumer products. Its annual revenue has doubled over the past year, to around $40 million, and the company now offers injection molding capabilities as well as sheet metal fabrication, urethane casting and computer numerical controlled machining.

The $25 million funding round is led by Foundry Group, one of MakeTime’s investors. It includes contributions from Almaz Capital and Maryland Venture Fund, as well as money from existing Xometry investors such as the venture-capital arms of BMW and GE and Highland Capital Partners. Xometry has raised $63 million so far.

Editors' Picks

{{subsection}}

We use cookies for analytics, advertising and to improve our site.
You agree to our use of cookies by closing this message box or continuing to use our site.
To find out more, including how to change your settings, see our
Cookie Policy